Zurcher Kantonalbank Zurich Cantonalbank Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 29.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,743,468 shares of the financial services provider’s stock after purchasing an additional 391,455 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 12th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in JPMorgan Chase & Co. were worth $417,927,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Peterson Financial Group Inc. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $45,000. Legacy Investment Solutions LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $45,000. Collier Financial purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $45,000. Finally, Lowe Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock worth $12,448,445 over the last ninety days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $235.00 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The business has a 50 day moving average of $257.99 and a 200 day moving average of $239.11. The company has a market capitalization of $657.08 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the business earned $3.04 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.